Iraq Considers Third Oil Auction

Iraq is considering holding a third oil auction for some of its supergiant fields, such as Kirkuk and East Baghdad, if there is enough interest from foreign players, Oil Minister Hussain Shahristani said today.

Shahristani told Reuters that Iraq could hold a third bidding round for more of its oilfields that were auctioned before but were not awarded if there are at least three companies interested in developing them.

Shahristani said that a final deal for a gas joint venture with Shell will be sent to cabinet for approval “today or (the) start of next week” after it has been approved by the Cabinet’s energy committee.